Maybin v. Moorman

Citations

• 21 S.C. 346
• 1884 S.C. LEXIS 102

Syllabus

<p>A partner of a mercantile firm, who was also its salaried book-keeper, droAV §1,000 from the firm and purchased in his own name ten shares of bank stock-, charging himself Avith this amount on the books, Avhieh vrere open to the inspection of the other partners. This partner died and the firm proving insolvent, the other partners sought to have this bank stock declared partnership assets. Held, that the stock was not the property of the firm, but of the individual estate of the deceased partner; especially so, as at the time of his purchase his salary to a large amount was due and unpaid.</p>